Deutsche Bank has joined the Monetary Authority of Singapore’s multi-year Project Guardian initiative, which focuses on exploring applications for asset tokenization.
As part of the asset and wealth management workstream, Deutsche Bank will be testing an open architecture and interoperable blockchain platform aimed at servicing tokenized and digital funds. Mike Clarke, global head of securities services product management at Deutsche Bank, stated, “Through Project Guardian, and our work on relevant standardization areas, we hope to elevate the sound and tangible benefits that technology and collaboration can bring to clients and the industry.”
The German bank is joining other notable firms, including Citi, Fidelity, OCBC, and JPMorgan, which launched pilot projects in November as part of Project Guardian. These initiatives are investigating asset tokenization across various sectors, including fixed income, foreign exchange, and asset management products.